A vacant lot acquired for $333,000 is sold for $642,500 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity?
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Home » Business » A vacant lot acquired for $333,000 is sold for $642,500 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity?